UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
|
Investment Company Act file number |
811-22057 | |||||||
|
| ||||||||
|
Cohen & Steers Global Income Builder, Inc. | ||||||||
|
(Exact name of registrant as specified in charter) | ||||||||
|
| ||||||||
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280 Park Avenue New York, NY |
|
10017 | ||||||
|
(Address of principal executive offices) |
|
(Zip code) | ||||||
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| ||||||||
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Tina M. Payne 280 Park Avenue New York, NY 10017 | ||||||||
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(Name and address of agent for service) | ||||||||
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| ||||||||
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Registrant’s telephone number, including area code: |
(212) 832-3232 |
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Date of fiscal year end: |
December 31 |
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Date of reporting period: |
March 31, 2014 |
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Item 1. Schedule of Investments
COHEN & STEERS GLOBAL INCOME BUILDER, INC.
SCHEDULE OF INVESTMENTS
March 31, 2014 (Unaudited)
|
|
|
Number |
|
Value |
| |
|
COMMON STOCK 110.8% |
|
|
|
|
| |
|
AUSTRALIA 1.3% |
|
|
|
|
| |
|
FINANCIAL—BANKS 0.4% |
|
|
|
|
| |
|
Australia and New Zealand Banking Group Ltd.(a) |
|
39,961 |
|
$ |
1,229,318 |
|
|
|
|
|
|
|
| |
|
MATERIALS—METALS & MINING 0.4% |
|
|
|
|
| |
|
BHP Billiton Ltd.(a) |
|
29,287 |
|
992,690 |
| |
|
|
|
|
|
|
| |
|
REAL ESTATE 0.5% |
|
|
|
|
| |
|
DIVERSIFIED 0.1% |
|
|
|
|
| |
|
Cromwell Property Group |
|
153,610 |
|
136,934 |
| |
|
|
|
|
|
|
| |
|
INDUSTRIALS 0.4% |
|
|
|
|
| |
|
Goodman Group |
|
273,594 |
|
1,203,309 |
| |
|
TOTAL REAL ESTATE |
|
|
|
1,340,243 |
| |
|
TOTAL AUSTRALIA |
|
|
|
3,562,251 |
| |
|
|
|
|
|
|
| |
|
BELGIUM 1.1% |
|
|
|
|
| |
|
CONSUMER STAPLES |
|
|
|
|
| |
|
Anheuser-Busch InBev NV(a) |
|
30,300 |
|
3,191,051 |
| |
|
|
|
|
|
|
| |
|
BERMUDA 0.2% |
|
|
|
|
| |
|
REAL ESTATE—HOTEL |
|
|
|
|
| |
|
Orient-Express Hotels Ltd., Class A (USD)(b) |
|
47,755 |
|
688,150 |
| |
|
|
|
|
|
|
| |
|
BRAZIL 0.3% |
|
|
|
|
| |
|
ELECTRIC—INTEGRATED ELECTRIC |
|
|
|
|
| |
|
Light SA |
|
91,111 |
|
752,900 |
| |
|
|
|
|
|
|
| |
|
CANADA 3.0% |
|
|
|
|
| |
|
FINANCIAL—BANKS 0.2% |
|
|
|
|
| |
|
Toronto-Dominion Bank (USD) |
|
13,400 |
|
629,130 |
| |
|
|
|
|
|
|
| |
|
MATERIALS—CHEMICALS 0.7% |
|
|
|
|
| |
|
Potash Corp. of Saskatchewan |
|
54,300 |
|
1,964,231 |
| |
|
|
|
|
|
|
| |
|
PIPELINES—C-CORP 1.6% |
|
|
|
|
| |
|
AltaGas Ltd. |
|
35,275 |
|
1,445,461 |
| |
|
Enbridge |
|
49,633 |
|
2,254,249 |
| |
|
Inter Pipeline Ltd. |
|
37,000 |
|
976,961 |
| |
|
|
|
|
|
4,676,671 |
| |
|
TRANSPORT—RAIL 0.5% |
|
|
|
|
| |
|
Canadian National Railway Co. |
|
23,600 |
|
1,325,912 |
| |
|
TOTAL CANADA |
|
|
|
8,595,944 |
| |
|
|
|
Number |
|
Value |
| |
|
FRANCE 4.3% |
|
|
|
|
| |
|
CONSUMER STAPLES 0.6% |
|
|
|
|
| |
|
Danone SA(a) |
|
25,700 |
|
$ |
1,815,635 |
|
|
|
|
|
|
|
| |
|
CONSUMER—CYCLICAL—DIVERSIFIED 0.5% |
|
|
|
|
| |
|
LVMH Moet Hennessy Louis Vuitton SA(a) |
|
7,400 |
|
1,340,970 |
| |
|
|
|
|
|
|
| |
|
ENERGY—OIL & GAS 0.9% |
|
|
|
|
| |
|
Total SA(a) |
|
38,381 |
|
2,526,411 |
| |
|
|
|
|
|
|
| |
|
FINANCIAL—BANKS 0.9% |
|
|
|
|
| |
|
BNP Paribas(a) |
|
33,800 |
|
2,605,950 |
| |
|
|
|
|
|
|
| |
|
MATERIALS—CONSTRUCTION MATERIALS 0.5% |
|
|
|
|
| |
|
Lafarge SA(a) |
|
16,400 |
|
1,280,019 |
| |
|
|
|
|
|
|
| |
|
REAL ESTATE—DIVERSIFIED 0.3% |
|
|
|
|
| |
|
Gecina SA |
|
7,013 |
|
932,081 |
| |
|
|
|
|
|
|
| |
|
TOLL ROADS 0.6% |
|
|
|
|
| |
|
Groupe Eurotunnel SA(a) |
|
135,645 |
|
1,731,525 |
| |
|
TOTAL FRANCE |
|
|
|
12,232,591 |
| |
|
|
|
|
|
|
| |
|
GERMANY 4.8% |
|
|
|
|
| |
|
AUTOMOTIVE 0.9% |
|
|
|
|
| |
|
Bayerische Motoren Werke AG(a) |
|
19,900 |
|
2,514,684 |
| |
|
|
|
|
|
|
| |
|
FINANCIAL 2.2% |
|
|
|
|
| |
|
BANKS 0.9% |
|
|
|
|
| |
|
Deutsche Bank AG(a) |
|
56,300 |
|
2,523,284 |
| |
|
|
|
|
|
|
| |
|
INSURANCE 1.3% |
|
|
|
|
| |
|
Allianz SE(a) |
|
22,300 |
|
3,769,116 |
| |
|
TOTAL FINANCIAL |
|
|
|
6,292,400 |
| |
|
|
|
|
|
|
| |
|
INDUSTRIALS 1.0% |
|
|
|
|
| |
|
AIRLINES 0.5% |
|
|
|
|
| |
|
Deutsche Lufthansa AG(b) |
|
60,000 |
|
1,573,167 |
| |
|
|
|
|
|
|
| |
|
ELECTRICAL EQUIPMENT 0.5% |
|
|
|
|
| |
|
Siemens AG |
|
9,800 |
|
1,321,653 |
| |
|
TOTAL INDUSTRIALS |
|
|
|
2,894,820 |
| |
|
|
|
|
|
|
| |
|
TECHNOLOGY—SOFTWARE 0.7% |
|
|
|
|
| |
|
SAP AG(a) |
|
26,300 |
|
2,133,340 |
| |
|
TOTAL GERMANY |
|
|
|
13,835,244 |
| |
|
|
|
|
|
|
| |
|
HONG KONG 5.2% |
|
|
|
|
| |
|
ENERGY—OIL & GAS 0.2% |
|
|
|
|
| |
|
CNOOC Ltd.(a) |
|
424,000 |
|
641,945 |
| |
|
|
|
Number |
|
Value |
| |
|
FINANCIAL—INVESTMENT BANKERS/BROKERS 0.2% |
|
|
|
|
| |
|
Hong Kong Exchanges and Clearing Ltd.(a) |
|
39,000 |
|
$ |
592,292 |
|
|
|
|
|
|
|
| |
|
HOTEL 0.6% |
|
|
|
|
| |
|
Wynn Macau Ltd. |
|
410,000 |
|
1,698,546 |
| |
|
|
|
|
|
|
| |
|
INDUSTRIALS—DIVERSIFIED 1.1% |
|
|
|
|
| |
|
Hutchison Whampoa Ltd.(a) |
|
228,000 |
|
3,028,919 |
| |
|
|
|
|
|
|
| |
|
REAL ESTATE 2.5% |
|
|
|
|
| |
|
DIVERSIFIED 0.7% |
|
|
|
|
| |
|
Hang Lung Properties Ltd. |
|
331,000 |
|
952,805 |
| |
|
New World Development Co., Ltd. |
|
866,000 |
|
873,596 |
| |
|
Sun Hung Kai Properties Ltd. |
|
400 |
|
4,912 |
| |
|
|
|
|
|
1,831,313 |
| |
|
OFFICE 0.5% |
|
|
|
|
| |
|
Hongkong Land Holdings Ltd. (USD) |
|
233,598 |
|
1,513,024 |
| |
|
|
|
|
|
|
| |
|
RESIDENTIAL 0.9% |
|
|
|
|
| |
|
China Overseas Land & Investment Ltd. |
|
490,000 |
|
1,269,989 |
| |
|
Shimao Property Holdings Ltd. |
|
640,000 |
|
1,408,906 |
| |
|
|
|
|
|
2,678,895 |
| |
|
RETAIL 0.4% |
|
|
|
|
| |
|
Link REIT |
|
250,000 |
|
1,236,008 |
| |
|
TOTAL REAL ESTATE |
|
|
|
7,259,240 |
| |
|
|
|
|
|
|
| |
|
TELECOMMUNICATION SERVICES 0.2% |
|
|
|
|
| |
|
China Mobile Ltd.(a) |
|
56,500 |
|
518,751 |
| |
|
|
|
|
|
|
| |
|
WATER 0.4% |
|
|
|
|
| |
|
China Water Affairs Group Ltd. |
|
3,682,000 |
|
1,169,602 |
| |
|
TOTAL HONG KONG |
|
|
|
14,909,295 |
| |
|
|
|
|
|
|
| |
|
IRELAND 2.2% |
|
|
|
|
| |
|
HEALTH CARE |
|
|
|
|
| |
|
HEALTHCARE PRODUCTS 0.9% |
|
|
|
|
| |
|
Covidien PLC (USD)(c) |
|
34,800 |
|
2,563,368 |
| |
|
|
|
|
|
|
| |
|
PHARMACEUTICALS 1.3% |
|
|
|
|
| |
|
Actavis PLC (USD)(b),(c) |
|
13,700 |
|
2,820,145 |
| |
|
Perrigo Co. PLC (USD) |
|
4,900 |
|
757,834 |
| |
|
|
|
|
|
3,577,979 |
| |
|
TOTAL IRELAND |
|
|
|
6,141,347 |
| |
|
|
|
Number |
|
Value |
| |
|
ITALY 1.2% |
|
|
|
|
| |
|
ENERGY—OIL & GAS 0.7% |
|
|
|
|
| |
|
Eni S.p.A.(a) |
|
72,800 |
|
$ |
1,825,561 |
|
|
|
|
|
|
|
| |
|
TOLL ROADS 0.5% |
|
|
|
|
| |
|
Atlantia S.p.A. |
|
58,000 |
|
1,490,287 |
| |
|
TOTAL ITALY |
|
|
|
3,315,848 |
| |
|
|
|
|
|
|
| |
|
JAPAN 9.6% |
|
|
|
|
| |
|
AUTOMOTIVE 0.4% |
|
|
|
|
| |
|
Toyota Motor Corp.(a) |
|
22,000 |
|
1,240,664 |
| |
|
|
|
|
|
|
| |
|
CONSUMER DISCRETIONARY—MEDIA 0.9% |
|
|
|
|
| |
|
CyberAgent(a) |
|
70,000 |
|
2,679,603 |
| |
|
|
|
|
|
|
| |
|
FINANCIAL 1.7% |
|
|
|
|
| |
|
BANKS 0.6% |
|
|
|
|
| |
|
Sumitomo Mitsui Trust Holdings |
|
353,000 |
|
1,597,164 |
| |
|
|
|
|
|
|
| |
|
DIVERSIFIED FINANCIAL SERVICES 0.7% |
|
|
|
|
| |
|
ORIX Corp.(a) |
|
140,500 |
|
1,980,204 |
| |
|
|
|
|
|
|
| |
|
INSURANCE 0.4% |
|
|
|
|
| |
|
NKSJ Holdings(a) |
|
46,250 |
|
1,187,442 |
| |
|
TOTAL FINANCIAL |
|
|
|
4,764,810 |
| |
|
|
|
|
|
|
| |
|
GAS DISTRIBUTION 0.3% |
|
|
|
|
| |
|
Tokyo Gas Co., Ltd. |
|
192,000 |
|
973,565 |
| |
|
|
|
|
|
|
| |
|
HEALTH CARE—PHARMACEUTICALS 0.6% |
|
|
|
|
| |
|
Astellas Pharma(a) |
|
148,500 |
|
1,763,076 |
| |
|
|
|
|
|
|
| |
|
INDUSTRIALS 2.6% |
|
|
|
|
| |
|
COMMERCIAL SERVICES & SUPPLIES 0.9% |
|
|
|
|
| |
|
Secom Co., Ltd.(a) |
|
47,000 |
|
2,701,802 |
| |
|
|
|
|
|
|
| |
|
ELECTRICAL EQUIPMENT 1.7% |
|
|
|
|
| |
|
Fanuc Ltd.(a) |
|
13,600 |
|
2,404,370 |
| |
|
Murata Manufacturing Co., Ltd.(a) |
|
25,600 |
|
2,419,736 |
| |
|
|
|
|
|
4,824,106 |
| |
|
TOTAL INDUSTRIALS |
|
|
|
7,525,908 |
| |
|
|
|
|
|
|
| |
|
RAILWAYS 0.4% |
|
|
|
|
| |
|
Central Japan Railway Co.(a) |
|
8,700 |
|
1,016,255 |
| |
|
|
|
|
|
|
| |
|
REAL ESTATE 0.7% |
|
|
|
|
| |
|
DIVERSIFIED 0.4% |
|
|
|
|
| |
|
Tokyo Tatemono Co., Ltd. |
|
147,000 |
|
1,259,548 |
| |
|
|
|
Number |
|
Value |
| |
|
OFFICE 0.3% |
|
|
|
|
| |
|
Japan Prime Realty Investment Corp. |
|
225 |
|
$ |
728,763 |
|
|
TOTAL REAL ESTATE |
|
|
|
1,988,311 |
| |
|
|
|
|
|
|
| |
|
TECHNOLOGY 1.3% |
|
|
|
|
| |
|
ELECTRONIC EQUIPMENT & INSTRUMENTS 0.8% |
|
|
|
|
| |
|
Kyocera Corp.(a) |
|
26,900 |
|
1,212,319 |
| |
|
Sony Corp.(a) |
|
60,500 |
|
1,152,356 |
| |
|
|
|
|
|
2,364,675 |
| |
|
OFFICE ELECTRONICS 0.5% |
|
|
|
|
| |
|
Canon(a) |
|
40,900 |
|
1,269,365 |
| |
|
TOTAL TECHNOLOGY |
|
|
|
3,634,040 |
| |
|
|
|
|
|
|
| |
|
TELECOMMUNICATION SERVICES 0.7% |
|
|
|
|
| |
|
KDDI Corp.(a) |
|
31,600 |
|
1,834,853 |
| |
|
TOTAL JAPAN |
|
|
|
27,421,085 |
| |
|
|
|
|
|
|
| |
|
JERSEY 0.6% |
|
|
|
|
| |
|
CONSUMER DISCRETIONARY—MEDIA WPP PLC (GBP) |
|
85,500 |
|
1,766,611 |
| |
|
|
|
|
|
|
| |
|
MEXICO 0.9% |
|
|
|
|
| |
|
AIRPORTS 0.4% |
|
|
|
|
| |
|
Grupo Aeroportuario del Pacifico SAB de CV, ADR(c) |
|
17,351 |
|
1,014,860 |
| |
|
|
|
|
|
|
| |
|
CONSUMER—NON-CYCLICAL—RETAIL 0.3% |
|
|
|
|
| |
|
Wal-Mart de Mexico SA de CV |
|
410,600 |
|
978,106 |
| |
|
|
|
|
|
|
| |
|
TELECOMMUNICATION SERVICES 0.2% |
|
|
|
|
| |
|
America Movil SAB de CV |
|
573,400 |
|
571,841 |
| |
|
TOTAL MEXICO |
|
|
|
2,564,807 |
| |
|
|
|
|
|
|
| |
|
NETHERLANDS 1.1% |
|
|
|
|
| |
|
INDUSTRIALS—AEROSPACE & DEFENSE 0.6% |
|
|
|
|
| |
|
Airbus Group NV |
|
25,500 |
|
1,826,333 |
| |
|
|
|
|
|
|
| |
|
REAL ESTATE—RETAIL 0.5% |
|
|
|
|
| |
|
Corio NV |
|
4,426 |
|
202,185 |
| |
|
Wereldhave NV |
|
13,978 |
|
1,189,267 |
| |
|
|
|
|
|
1,391,452 |
| |
|
TOTAL NETHERLANDS |
|
|
|
3,217,785 |
| |
|
|
|
|
|
|
| |
|
NEW ZEALAND 0.3% |
|
|
|
|
| |
|
AIRPORTS |
|
|
|
|
| |
|
Auckland International Airport Ltd. |
|
291,105 |
|
963,105 |
| |
|
|
|
Number |
|
Value |
| |
|
NORWAY 0.3% |
|
|
|
|
| |
|
REAL ESTATE—OFFICE |
|
|
|
|
| |
|
Norwegian Property ASA |
|
799,348 |
|
$ |
967,847 |
|
|
|
|
|
|
|
| |
|
SINGAPORE 1.9% |
|
|
|
|
| |
|
REAL ESTATE—DIVERSIFIED 0.4% |
|
|
|
|
| |
|
Capitaland Ltd.(a) |
|
450,000 |
|
1,036,440 |
| |
|
|
|
|
|
|
| |
|
TECHNOLOGY—SEMICONDUCTORS 1.5% |
|
|
|
|
| |
|
Avago Technologies Ltd. (USD)(c) |
|
68,487 |
|
4,411,248 |
| |
|
TOTAL SINGAPORE |
|
|
|
5,447,688 |
| |
|
|
|
|
|
|
| |
|
SOUTH KOREA 0.4% |
|
|
|
|
| |
|
TECHNOLOGY—SEMICONDUCTORS |
|
|
|
|
| |
|
Samsung Electronics Co., Ltd. GDR, 144A(c),(d) |
|
2,000 |
|
1,258,000 |
| |
|
|
|
|
|
|
| |
|
SPAIN 2.0% |
|
|
|
|
| |
|
ELECTRIC—REGULATED ELECTRIC 0.7% |
|
|
|
|
| |
|
Red Electrica Corp. SA |
|
23,134 |
|
1,881,144 |
| |
|
|
|
|
|
|
| |
|
FINANCIAL—BANKS 0.4% |
|
|
|
|
| |
|
Banco Santander Central Hispano SA |
|
130,000 |
|
1,241,000 |
| |
|
|
|
|
|
|
| |
|
REAL ESTATE—DIVERSIFIED 0.2% |
|
|
|
|
| |
|
Lar Espana Real Estate Socimi SA(b) |
|
48,891 |
|
699,142 |
| |
|
|
|
|
|
|
| |
|
TELECOMMUNICATION SERVICES 0.2% |
|
|
|
|
| |
|
Telefonica SA(a) |
|
38,500 |
|
610,099 |
| |
|
|
|
|
|
|
| |
|
TOLL ROADS 0.5% |
|
|
|
|
| |
|
Ferrovial SA |
|
62,526 |
|
1,355,423 |
| |
|
TOTAL SPAIN |
|
|
|
5,786,808 |
| |
|
|
|
|
|
|
| |
|
SWITZERLAND 5.6% |
|
|
|
|
| |
|
AIRPORTS 0.4% |
|
|
|
|
| |
|
Flughafen Zuerich AG(a) |
|
1,929 |
|
1,241,467 |
| |
|
|
|
|
|
|
| |
|
CONSUMER—NON-CYCLICAL—FOOD 0.9% |
|
|
|
|
| |
|
Nestle SA(a) |
|
33,020 |
|
2,485,402 |
| |
|
|
|
|
|
|
| |
|
FINANCIAL 1.4% |
|
|
|
|
| |
|
BANKS 0.4% |
|
|
|
|
| |
|
Credit Suisse Group AG(a) |
|
37,073 |
|
1,199,981 |
| |
|
|
|
|
|
|
| |
|
INSURANCE 1.0% |
|
|
|
|
| |
|
Zurich Insurance Group AG(a) |
|
8,600 |
|
2,641,187 |
| |
|
TOTAL FINANCIAL |
|
|
|
3,841,168 |
| |
|
|
|
|
|
|
| |
|
HEALTH CARE—PHARMACEUTICALS 1.3% |
|
|
|
|
| |
|
Novartis AG(a) |
|
44,800 |
|
3,803,875 |
| |
|
|
|
Number |
|
Value |
| |
|
INDUSTRIALS 1.2% |
|
|
|
|
| |
|
ELECTRICAL COMPONENT & EQUIPMENT 0.4% |
|
|
|
|
| |
|
TE Connectivity Ltd. (USD)(c) |
|
21,364 |
|
$ |
1,286,327 |
|
|
|
|
|
|
|
| |
|
MACHINERY 0.8% |
|
|
|
|
| |
|
Pentair, Ltd. (USD)(c) |
|
27,800 |
|
2,205,652 |
| |
|
TOTAL INDUSTRIALS |
|
|
|
3,491,979 |
| |
|
|
|
|
|
|
| |
|
MATERIALS—CHEMICALS 0.4% |
|
|
|
|
| |
|
Syngenta AG(a) |
|
3,124 |
|
1,185,948 |
| |
|
TOTAL SWITZERLAND |
|
|
|
16,049,839 |
| |
|
|
|
|
|
|
| |
|
UNITED KINGDOM 10.1% |
|
|
|
|
| |
|
CONSUMER STAPLES—BEVERAGE 0.6% |
|
|
|
|
| |
|
Diageo PLC |
|
54,700 |
|
1,698,932 |
| |
|
|
|
|
|
|
| |
|
CONSUMER—CYCLICAL—RETAIL 0.6% |
|
|
|
|
| |
|
Next PLC |
|
16,800 |
|
1,848,852 |
| |
|
|
|
|
|
|
| |
|
CONSUMER—NON-CYCLICAL—HOUSEHOLD PRODUCTS 0.9% |
|
|
|
|
| |
|
Reckitt Benckiser Group PLC(a) |
|
32,200 |
|
2,627,680 |
| |
|
|
|
|
|
|
| |
|
ELECTRIC—REGULATED ELECTRIC 0.6% |
|
|
|
|
| |
|
National Grid PLC(a) |
|
117,776 |
|
1,618,429 |
| |
|
|
|
|
|
|
| |
|
ENERGY 1.6% |
|
|
|
|
| |
|
INTEGRATED OIL & GAS 0.9% |
|
|
|
|
| |
|
Royal Dutch Shell PLC(a) |
|
70,224 |
|
2,565,829 |
| |
|
|
|
|
|
|
| |
|
OIL & GAS EQUIPMENT & SERVICES 0.7% |
|
|
|
|
| |
|
Ensco PLC, Class A (USD)(a) |
|
39,000 |
|
2,058,420 |
| |
|
TOTAL ENERGY |
|
|
|
4,624,249 |
| |
|
|
|
|
|
|
| |
|
FINANCIAL—BANKS 1.5% |
|
|
|
|
| |
|
Barclays PLC(a) |
|
535,900 |
|
2,085,445 |
| |
|
HSBC Holdings PLC(a) |
|
220,166 |
|
2,229,272 |
| |
|
|
|
|
|
4,314,717 |
| |
|
HEALTH CARE—PHARMACEUTICALS 1.5% |
|
|
|
|
| |
|
GlaxoSmithKline PLC(a) |
|
162,800 |
|
4,341,116 |
| |
|
|
|
|
|
|
| |
|
INDUSTRIALS—AEROSPACE & DEFENSE 0.9% |
|
|
|
|
| |
|
EasyJet PLC(a) |
|
85,372 |
|
2,443,262 |
| |
|
|
|
|
|
|
| |
|
INSURANCE—LIFE/HEALTH INSURANCE 0.4% |
|
|
|
|
| |
|
St. James’s Place PLC |
|
91,436 |
|
1,260,002 |
| |
|
|
|
Number |
|
Value |
| |
|
PIPELINES—MLP 0.4% |
|
|
|
|
| |
|
Seadrill Partners LLC (USD) |
|
41,337 |
|
$ |
1,240,110 |
|
|
|
|
|
|
|
| |
|
REAL ESTATE 1.1% |
|
|
|
|
| |
|
DIVERSIFIED 0.2% |
|
|
|
|
| |
|
Helical Bar PLC |
|
85,075 |
|
530,100 |
| |
|
|
|
|
|
|
| |
|
RETAIL 0.5% |
|
|
|
|
| |
|
Hammerson PLC |
|
138,016 |
|
1,275,921 |
| |
|
|
|
|
|
|
| |
|
SELF STORAGE 0.4% |
|
|
|
|
| |
|
Big Yellow Group PLC |
|
136,977 |
|
1,248,121 |
| |
|
TOTAL REAL ESTATE |
|
|
|
3,054,142 |
| |
|
TOTAL UNITED KINGDOM |
|
|
|
29,071,491 |
| |
|
|
|
|
|
|
| |
|
UNITED STATES 54.4% |
|
|
|
|
| |
|
AUTOMOTIVE 0.4% |
|
|
|
|
| |
|
Ford Motor Co.(a) |
|
80,800 |
|
1,260,480 |
| |
|
|
|
|
|
|
| |
|
COMMUNICATIONS—TOWERS 1.7% |
|
|
|
|
| |
|
American Tower Corp.(c) |
|
29,078 |
|
2,380,616 |
| |
|
Crown Castle International Corp.(c) |
|
22,404 |
|
1,652,967 |
| |
|
SBA Communications Corp., Class A(b) |
|
7,978 |
|
725,679 |
| |
|
|
|
|
|
4,759,262 |
| |
|
CONSUMER DISCRETIONARY—HOTELS, RESTAURANTS & LEISURE 0.9% |
|
|
|
|
| |
|
Las Vegas Sands Corp.(c) |
|
31,000 |
|
2,504,180 |
| |
|
|
|
|
|
|
| |
|
CONSUMER—CYCLICAL 4.9% |
|
|
|
|
| |
|
AIRLINES 0.8% |
|
|
|
|
| |
|
Alaska Air Group(a) |
|
24,000 |
|
2,239,440 |
| |
|
|
|
|
|
|
| |
|
APPAREL 0.9% |
|
|
|
|
| |
|
Hanesbrands |
|
17,500 |
|
1,338,400 |
| |
|
VF Corp.(c) |
|
20,000 |
|
1,237,600 |
| |
|
|
|
|
|
2,576,000 |
| |
|
AUTOMOBILES 0.4% |
|
|
|
|
| |
|
Harley-Davidson(c) |
|
18,700 |
|
1,245,607 |
| |
|
|
|
|
|
|
| |
|
HOME BUILDERS 0.7% |
|
|
|
|
| |
|
D.R. Horton(a) |
|
89,400 |
|
1,935,510 |
| |
|
|
|
|
|
|
| |
|
MEDIA 1.1% |
|
|
|
|
| |
|
The Walt Disney Co.(a) |
|
37,800 |
|
3,026,646 |
| |
|
|
|
Number |
|
Value |
| |
|
RESTAURANT 0.6% |
|
|
|
|
| |
|
Starbucks Corp.(a) |
|
23,000 |
|
$ |
1,687,740 |
|
|
|
|
|
|
|
| |
|
RETAIL 0.4% |
|
|
|
|
| |
|
Ross Stores(a) |
|
16,800 |
|
1,202,040 |
| |
|
TOTAL CONSUMER—CYCLICAL |
|
|
|
13,912,983 |
| |
|
|
|
|
|
|
| |
|
CONSUMER—NON-CYCLICAL 2.4% |
|
|
|
|
| |
|
FOOD PRODUCTS 1.2% |
|
|
|
|
| |
|
Tyson Foods, Class A(a) |
|
75,300 |
|
3,313,953 |
| |
|
|
|
|
|
|
| |
|
RETAIL 1.2% |
|
|
|
|
| |
|
Costco Wholesale Corp.(c) |
|
13,900 |
|
1,552,352 |
| |
|
CVS Caremark Corp.(a) |
|
26,800 |
|
2,006,248 |
| |
|
|
|
|
|
3,558,600 |
| |
|
TOTAL CONSUMER—NON-CYCLICAL |
|
|
|
6,872,553 |
| |
|
|
|
|
|
|
| |
|
ELECTRIC—REGULATED ELECTRIC 0.6% |
|
|
|
|
| |
|
CMS Energy Corp. |
|
31,522 |
|
922,964 |
| |
|
PG&E Corp.(a),(c) |
|
19,531 |
|
843,739 |
| |
|
|
|
|
|
1,766,703 |
| |
|
ENERGY 5.4% |
|
|
|
|
| |
|
OIL & GAS 4.3% |
|
|
|
|
| |
|
Anadarko Petroleum Corp.(c) |
|
24,837 |
|
2,105,184 |
| |
|
Devon Energy Corp. |
|
18,700 |
|
1,251,591 |
| |
|
EOG Resources(c) |
|
16,200 |
|
3,177,954 |
| |
|
Exxon Mobil Corp.(a) |
|
59,047 |
|
5,767,711 |
| |
|
|
|
|
|
12,302,440 |
| |
|
|
|
|
|
|
| |
|
OIL & GAS SERVICES 1.1% |
|
|
|
|
| |
|
Helmerich & Payne(c) |
|
12,300 |
|
1,322,988 |
| |
|
Marathon Petroleum Corp. |
|
8,000 |
|
696,320 |
| |
|
Schlumberger Ltd.(c) |
|
13,298 |
|
1,296,555 |
| |
|
|
|
|
|
3,315,863 |
| |
|
TOTAL ENERGY |
|
|
|
15,618,303 |
| |
|
|
|
|
|
|
| |
|
FINANCIAL 8.4% |
|
|
|
|
| |
|
BANKS 2.4% |
|
|
|
|
| |
|
Bank of America Corp.(a) |
|
179,400 |
|
3,085,680 |
| |
|
Comerica(a) |
|
24,800 |
|
1,284,640 |
| |
|
|
|
Number |
|
Value |
| |
|
Wells Fargo & Co.(a) |
|
53,087 |
|
$ |
2,640,547 |
|
|
|
|
|
|
7,010,867 |
| |
|
|
|
|
|
|
| |
|
CREDIT CARD 0.5% |
|
|
|
|
| |
|
American Express Co.(a) |
|
14,700 |
|
1,323,441 |
| |
|
|
|
|
|
|
| |
|
DIVERSIFIED FINANCIAL SERVICES 4.5% |
|
|
|
|
| |
|
Ameriprise Financial(a) |
|
23,000 |
|
2,531,610 |
| |
|
BlackRock(c) |
|
5,823 |
|
1,831,217 |
| |
|
Capital One Financial Corp.(c) |
|
16,600 |
|
1,280,856 |
| |
|
Citigroup(a) |
|
51,811 |
|
2,466,203 |
| |
|
JPMorgan Chase & Co.(a) |
|
57,394 |
|
3,484,390 |
| |
|
Morgan Stanley |
|
40,700 |
|
1,268,619 |
| |
|
|
|
|
|
12,862,895 |
| |
|
INSURANCE 1.0% |
|
|
|
|
| |
|
American International Group(a) |
|
37,076 |
|
1,854,171 |
| |
|
Prudential Financial(c) |
|
13,700 |
|
1,159,705 |
| |
|
|
|
|
|
3,013,876 |
| |
|
TOTAL FINANCIAL |
|
|
|
24,211,079 |
| |
|
|
|
|
|
|
| |
|
GAS DISTRIBUTION 0.7% |
|
|
|
|
| |
|
Sempra Energy(a),(c) |
|
21,626 |
|
2,092,532 |
| |
|
|
|
|
|
|
| |
|
HEALTH CARE 3.7% |
|
|
|
|
| |
|
BIOTECHNOLOGY 0.9% |
|
|
|
|
| |
|
Amgen(a) |
|
10,700 |
|
1,319,738 |
| |
|
Gilead Sciences(b) |
|
17,400 |
|
1,232,964 |
| |
|
|
|
|
|
2,552,702 |
| |
|
HEALTH CARE PROVIDERS & SERVICES 1.6% |
|
|
|
|
| |
|
Aetna |
|
8,700 |
|
652,239 |
| |
|
Cigna Corp.(c) |
|
30,800 |
|
2,578,884 |
| |
|
Universal Health Services, Class B |
|
14,700 |
|
1,206,429 |
| |
|
|
|
|
|
4,437,552 |
| |
|
HEALTHCARE PRODUCTS 0.8% |
|
|
|
|
| |
|
Thermo Fisher Scientific(a) |
|
19,419 |
|
2,334,941 |
| |
|
|
|
|
|
|
| |
|
PHARMACEUTICALS 0.4% |
|
|
|
|
| |
|
Pfizer(a) |
|
38,784 |
|
1,245,742 |
| |
|
TOTAL HEALTH CARE |
|
|
|
10,570,937 |
| |
|
|
|
Number |
|
Value |
| |
|
INDUSTRIALS 4.6% |
|
|
|
|
| |
|
AEROSPACE & DEFENSE 1.1% |
|
|
|
|
| |
|
Triumph Group |
|
18,000 |
|
$ |
1,162,440 |
|
|
United Technologies Corp.(a) |
|
16,973 |
|
1,983,125 |
| |
|
|
|
|
|
3,145,565 |
| |
|
AUTO MANUFACTURERS 0.5% |
|
|
|
|
| |
|
PACCAR |
|
23,500 |
|
1,584,840 |
| |
|
|
|
|
|
|
| |
|
BUILDING PRODUCTS 0.5% |
|
|
|
|
| |
|
Eagle Materials(a) |
|
14,823 |
|
1,314,207 |
| |
|
|
|
|
|
|
| |
|
DIVERSIFIED MANUFACTURING 1.4% |
|
|
|
|
| |
|
General Electric Co.(a) |
|
67,230 |
|
1,740,585 |
| |
|
Owens Corning(a) |
|
28,200 |
|
1,217,394 |
| |
|
WW Grainger(c) |
|
4,400 |
|
1,111,704 |
| |
|
|
|
|
|
4,069,683 |
| |
|
MACHINERY 0.4% |
|
|
|
|
| |
|
SPX Corp. |
|
12,064 |
|
1,186,012 |
| |
|
|
|
|
|
|
| |
|
ROAD & RAIL 0.7% |
|
|
|
|
| |
|
CSX Corp.(c) |
|
69,700 |
|
2,019,209 |
| |
|
TOTAL INDUSTRIALS |
|
|
|
13,319,516 |
| |
|
|
|
|
|
|
| |
|
MATERIALS—CHEMICALS 2.0% |
|
|
|
|
| |
|
Eastman Chemical Co.(c) |
|
21,400 |
|
1,844,894 |
| |
|
Ecolab |
|
11,800 |
|
1,274,282 |
| |
|
Monsanto Co.(a) |
|
22,100 |
|
2,514,317 |
| |
|
|
|
|
|
5,633,493 |
| |
|
PIPELINES 3.7% |
|
|
|
|
| |
|
PIPELINES—C-CORP 1.6% |
|
|
|
|
| |
|
Plains GP Holdings LP, Class A |
|
38,857 |
|
1,087,219 |
| |
|
SemGroup Corp., Class A(c) |
|
26,032 |
|
1,709,782 |
| |
|
Williams Cos. (The)(c) |
|
40,382 |
|
1,638,701 |
| |
|
|
|
|
|
4,435,702 |
| |
|
PIPELINES—MLP 2.1% |
|
|
|
|
| |
|
Access Midstream Partners LP |
|
14,944 |
|
860,027 |
| |
|
Energy Transfer Equity LP(c) |
|
28,559 |
|
1,335,133 |
| |
|
EQT Midstream Partners LP(c) |
|
24,396 |
|
1,715,771 |
| |
|
NGL Energy Partners LP |
|
27,209 |
|
1,021,154 |
| |
|
Summit Midstream Partners LP |
|
16,016 |
|
689,168 |
| |
|
|
|
Number |
|
Value |
| |
|
Valero Energy Partners LP |
|
12,540 |
|
$ |
496,459 |
|
|
|
|
|
|
6,117,712 |
| |
|
TOTAL PIPELINES |
|
|
|
10,553,414 |
| |
|
|
|
|
|
|
| |
|
REAL ESTATE 3.4% |
|
|
|
|
| |
|
DIVERSIFIED 0.5% |
|
|
|
|
| |
|
Forest City Enterprises, Class A(a),(b) |
|
79,907 |
|
1,526,224 |
| |
|
|
|
|
|
|
| |
|
INDUSTRIALS 0.2% |
|
|
|
|
| |
|
First Industrial Realty Trust |
|
33,038 |
|
638,294 |
| |
|
|
|
|
|
|
| |
|
OFFICE 1.1% |
|
|
|
|
| |
|
Corporate Office Properties Trust |
|
35,248 |
|
939,007 |
| |
|
Kilroy Realty Corp. |
|
8,283 |
|
485,218 |
| |
|
Parkway Properties |
|
47,534 |
|
867,495 |
| |
|
PS Business Parks |
|
10,792 |
|
902,427 |
| |
|
|
|
|
|
3,194,147 |
| |
|
RESIDENTIAL—APARTMENT 0.3% |
|
|
|
|
| |
|
Equity Residential(c) |
|
15,045 |
|
872,460 |
| |
|
|
|
|
|
|
| |
|
SELF STORAGE 0.5% |
|
|
|
|
| |
|
Extra Space Storage |
|
30,263 |
|
1,468,058 |
| |
|
|
|
|
|
|
| |
|
SHOPPING CENTERS—REGIONAL MALL 0.4% |
|
|
|
|
| |
|
Glimcher Realty Trust(c) |
|
96,558 |
|
968,477 |
| |
|
|
|
|
|
|
| |
|
SPECIALTY 0.4% |
|
|
|
|
| |
|
Digital Realty Trust |
|
20,674 |
|
1,097,376 |
| |
|
TOTAL REAL ESTATE |
|
|
|
9,765,036 |
| |
|
|
|
|
|
|
| |
|
SHIPPING 0.6% |
|
|
|
|
| |
|
Teekay Corp. (Marshall Islands)(c) |
|
29,804 |
|
1,676,177 |
| |
|
|
|
|
|
|
| |
|
TECHNOLOGY 11.0% |
|
|
|
|
| |
|
COMPUTERS 3.3% |
|
|
|
|
| |
|
Apple(a) |
|
11,511 |
|
6,178,414 |
| |
|
Hewlett-Packard Co.(a),(c) |
|
102,500 |
|
3,316,900 |
| |
|
|
|
|
|
9,495,314 |
| |
|
COMPUTERS & PERIPHERALS 1.8% |
|
|
|
|
| |
|
NetApp(a) |
|
49,500 |
|
1,826,550 |
| |
|
NVIDIA Corp.(c) |
|
138,200 |
|
2,475,162 |
| |
|
Western Digital Corp. |
|
10,200 |
|
936,564 |
| |
|
|
|
|
|
5,238,276 |
| |
|
|
|
Number |
|
Value |
| |
|
INTERNET SERVICE PROVIDER 1.1% |
|
|
|
|
| |
|
Google(a),(b),(c) |
|
1,900 |
|
$ |
2,117,569 |
|
|
Yahoo!(b) |
|
30,000 |
|
1,077,000 |
| |
|
|
|
|
|
3,194,569 |
| |
|
SEMICONDUCTORS 2.1% |
|
|
|
|
| |
|
Broadcom Corp., Class A(a) |
|
114,900 |
|
3,617,052 |
| |
|
SanDisk Corp.(c) |
|
30,053 |
|
2,440,003 |
| |
|
|
|
|
|
6,057,055 |
| |
|
SERVICES 1.1% |
|
|
|
|
| |
|
Vantiv(b),(c) |
|
58,700 |
|
1,773,914 |
| |
|
Visa, Class A(a) |
|
5,500 |
|
1,187,230 |
| |
|
|
|
|
|
2,961,144 |
| |
|
SOFTWARE 1.6% |
|
|
|
|
| |
|
Citrix Systems(a),(b) |
|
80,400 |
|
4,617,372 |
| |
|
TOTAL TECHNOLOGY |
|
|
|
31,563,730 |
| |
|
TOTAL UNITED STATES |
|
|
|
156,080,378 |
| |
|
TOTAL COMMON STOCK |
|
|
|
317,820,065 |
| |
|
|
|
|
|
|
| |
|
CLOSED-END FUNDS—UNITED STATES 5.7% |
|
|
|
|
| |
|
COVERED CALL 1.3% |
|
|
|
|
| |
|
Eaton Vance Tax-Managed Buy-Write Opportunities Fund |
|
76,038 |
|
1,079,740 |
| |
|
Eaton Vance Tax-Managed Diversified Equity Income Fund |
|
90,673 |
|
1,011,004 |
| |
|
Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund |
|
30,899 |
|
373,878 |
| |
|
Eaton Vance Tax-Managed Global Diversified Equity Income Fund(a) |
|
107,975 |
|
1,090,547 |
| |
|
|
|
|
|
3,555,169 |
| |
|
ENERGY/ RESOURCES 0.1% |
|
|
|
|
| |
|
Market Vectors Oil Service ETF(c) |
|
6,280 |
|
316,072 |
| |
|
|
|
|
|
|
| |
|
EQUITY TAX—ADVANTAGED 1.2% |
|
|
|
|
| |
|
Eaton Vance Tax-Advantaged Dividend Income Fund |
|
50,192 |
|
986,775 |
| |
|
Eaton Vance Tax-Advantaged Global Dividend Income Fund |
|
21,589 |
|
362,047 |
| |
|
Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund |
|
13,323 |
|
322,417 |
| |
|
Gabelli Dividend & Income Trust(a) |
|
48,622 |
|
1,068,225 |
| |
|
|
|
Number |
|
Value |
| |
|
John Hancock Tax-Advantaged Dividend Income Fund |
|
36,580 |
|
$ |
728,674 |
|
|
|
|
|
|
3,468,138 |
| |
|
GLOBAL HYBRID (GROWTH & INCOME) 0.1% |
|
|
|
|
| |
|
Clough Global Opportunities Fund |
|
18,300 |
|
232,959 |
| |
|
|
|
|
|
|
| |
|
HIGH YIELD 0.1% |
|
|
|
|
| |
|
New America High Income Fund(c) |
|
29,144 |
|
285,903 |
| |
|
|
|
|
|
|
| |
|
INVESTMENT GRADE 0.1% |
|
|
|
|
| |
|
PIMCO Corporate and Income Opportunity Fund |
|
17,379 |
|
313,865 |
| |
|
|
|
|
|
|
| |
|
MASTER LIMITED PARTNERSHIPS 0.8% |
|
|
|
|
| |
|
First Trust Energy Income and Growth Fund |
|
21,794 |
|
713,754 |
| |
|
First Trust MLP and Energy Income Fund |
|
21,060 |
|
416,777 |
| |
|
Kayne Anderson Energy Total Return Fund |
|
15,490 |
|
423,032 |
| |
|
Kayne Anderson Midsteam/Energy Fund |
|
7,228 |
|
245,318 |
| |
|
Nuveen Energy MLP Total Return Fund(c) |
|
18,376 |
|
352,819 |
| |
|
|
|
|
|
2,151,700 |
| |
|
MULTI-SECTOR 1.2% |
|
|
|
|
| |
|
AllianzGI Convertible & Income Fund |
|
63,892 |
|
655,532 |
| |
|
AllianzGI Convertible & Income Fund II |
|
64,587 |
|
635,536 |
| |
|
PIMCO Dynamic Credit Income Fund(c) |
|
16,021 |
|
362,075 |
| |
|
PIMCO Dynamic Income Fund(c) |
|
20,594 |
|
624,410 |
| |
|
PIMCO Income Opportunity Fund(c) |
|
24,862 |
|
701,854 |
| |
|
PIMCO Income Strategy Fund II(c) |
|
45,557 |
|
473,793 |
| |
|
|
|
|
|
3,453,200 |
| |
|
MUNICIPAL 0.1% |
|
|
|
|
| |
|
PIMCO Municipal Income Fund II |
|
26,325 |
|
305,107 |
| |
|
|
|
|
|
|
| |
|
PREFERRED 0.4% |
|
|
|
|
| |
|
Flaherty & Crumrine/Claymore Preferred Securities Income Fund(c) |
|
15,810 |
|
304,026 |
| |
|
Nuveen Preferred Income Opportunities Fund(c) |
|
78,977 |
|
733,696 |
| |
|
|
|
|
|
1,037,722 |
| |
|
REAL ESTATE 0.1% |
|
|
|
|
| |
|
Alpine Global Premier Properties Fund |
|
52,880 |
|
372,804 |
| |
|
|
|
|
|
|
| |
|
U.S. GENERAL EQUITY 0.1% |
|
|
|
|
| |
|
Royce Global Value Trust(c) |
|
23,172 |
|
364,495 |
| |
|
|
|
|
|
|
| |
|
U.S. HYBRID (GROWTH & INCOME) 0.1% |
|
|
|
|
| |
|
Guggenheim Strategic Opportunities Fund(a),(c) |
|
17,656 |
|
374,131 |
| |
|
|
|
Number |
|
Value |
| |
|
TOTAL CLOSED-END FUNDS |
|
|
|
$ |
16,231,265 |
|
|
|
|
|
|
|
| |
|
PREFERRED SECURITIES—$25 PAR VALUE 2.2% |
|
|
|
|
| |
|
UNITED KINGDOM 1.0% |
|
|
|
|
| |
|
BANKS—FOREIGN |
|
|
|
|
| |
|
Barclays Bank PLC, 7.10%, Series III (USD) |
|
40,000 |
|
1,026,800 |
| |
|
National Westminster Bank PLC, 7.76%, Series C (USD) |
|
40,000 |
|
1,023,600 |
| |
|
RBS Capital Funding Trust VII, 6.08%, Series G (USD) |
|
40,000 |
|
890,000 |
| |
|
|
|
|
|
2,940,400 |
| |
|
UNITED STATES 1.2% |
|
|
|
|
| |
|
INDUSTRIALS—CHEMICALS 0.4% |
|
|
|
|
| |
|
CHS, 7.10%, Series II |
|
40,000 |
|
1,070,800 |
| |
|
|
|
|
|
|
| |
|
REAL ESTATE—DIVERSIFIED 0.8% |
|
|
|
|
| |
|
American Realty Capital Properties, 6.70%, Series F(c) |
|
70,000 |
|
1,593,900 |
| |
|
Colony Financial, 8.50%, Series A(a) |
|
28,000 |
|
726,040 |
| |
|
|
|
|
|
2,319,940 |
| |
|
TOTAL UNITED STATES |
|
|
|
3,390,740 |
| |
|
TOTAL PREFERRED SECURITIES—$25 PAR VALUE |
|
|
|
6,331,140 |
| |
|
|
|
|
|
|
| |
|
PREFERRED SECURITIES—CAPITAL SECURITIES 4.5% |
|
|
|
|
| |
|
FRANCE 0.5% |
|
|
|
|
| |
|
BANKS—FOREIGN |
|
|
|
|
| |
|
Credit Agricole SA, 7.875%, 144A (USD)(d) |
|
1,250,000 |
|
1,321,875 |
| |
|
|
|
|
|
|
| |
|
GERMANY 0.6% |
|
|
|
|
| |
|
BANKS—FOREIGN |
|
|
|
|
| |
|
Commerzbank AG, 8.125%, due 9/19/23, 144A (USD)(d) |
|
1,600,000 |
|
1,838,000 |
| |
|
|
|
|
|
|
| |
|
IRELAND 0.3% |
|
|
|
|
| |
|
BANKS—FOREIGN |
|
|
|
|
| |
|
Baggot Securities Ltd., 10.24%, 144A (EUR)(d) |
|
300,000 |
|
450,739 |
| |
|
Bank of Ireland, 10.00%, due 7/30/16, Series EMTN |
|
300,000 |
|
452,877 |
| |
|
TOTAL IRELAND |
|
|
|
903,616 |
| |
|
|
|
|
|
|
| |
|
SPAIN 0.4% |
|
|
|
|
| |
|
BANKS—FOREIGN |
|
|
|
|
| |
|
Banco Bilbao Vizcaya Argentaria SA, 9.00% (USD)(e) |
|
1,000,000 |
|
1,085,938 |
| |
|
|
|
|
|
|
| |
|
SWITZERLAND 0.9% |
|
|
|
|
| |
|
BANKS—FOREIGN 0.4% |
|
|
|
|
| |
|
Credit Suisse Group AG, 7.50%, 144A (USD)(d) |
|
977,000 |
|
1,062,497 |
| |
|
|
|
Number |
|
Value |
| |
|
INSURANCE—REINSURANCE—FOREIGN 0.5% |
|
|
|
|
| |
|
Aquarius + Investments PLC, 8.25% (USD) |
|
1,310,000 |
|
$ |
1,457,375 |
|
|
TOTAL SWITZERLAND |
|
|
|
2,519,872 |
| |
|
|
|
|
|
|
| |
|
UNITED KINGDOM 1.2% |
|
|
|
|
| |
|
BANKS—FOREIGN |
|
|
|
|
| |
|
Barclays PLC, 8.00% (EUR) |
|
750,000 |
|
1,090,065 |
| |
|
Barclays PLC, 8.25% (USD) |
|
1,000,000 |
|
1,051,860 |
| |
|
Nationwide Building Society, 6.875%, Series EMTN |
|
800,000 |
|
1,332,387 |
| |
|
TOTAL UNITED KINGDOM |
|
|
|
3,474,312 |
| |
|
|
|
|
|
|
| |
|
UNITED STATES 0.6% |
|
|
|
|
| |
|
INTEGRATED TELECOMMUNICATIONS SERVICES |
|
|
|
|
| |
|
Centaur Funding Corp., 9.08%, due 4/21/20, 144A (Cayman)(a),(d) |
|
1,500 |
|
1,840,313 |
| |
|
TOTAL PREFERRED SECURITIES—CAPITAL SECURITIES |
|
|
|
12,983,926 |
| |
|
|
|
Principal |
|
|
| |
|
CORPORATE BOND—UNITED STATES 0.6% |
|
|
|
|
| |
|
INSURANCE—PROPERTY CASUALTY |
|
|
|
|
| |
|
Liberty Mutual Insurance, 7.697%, due 10/15/97, 144A(d) |
|
$ |
1,500,000 |
|
1,639,314 |
|
|
TOTAL CORPORATE BONDS |
|
|
|
1,639,314 |
| |
|
|
|
Number |
|
|
|
|
RIGHTS—HONG KONG 0.0% |
|
|
|
|
|
|
REAL ESTATE—DIVERSIFIED |
|
|
|
|
|
|
New World Development Co., Ltd.(b),(e) |
|
288,667 |
|
59,546 |
|
|
TOTAL RIGHTS |
|
|
|
59,546 |
|
|
|
|
|
|
Number |
|
Value |
| |
|
SHORT-TERM INVESTMENTS 0.3% |
|
|
|
|
|
|
| |
|
MONEY MARKET FUNDS |
|
|
|
|
|
|
| |
|
State Street Institutional Treasury Money Market Fund, 0.00%(f) |
|
|
|
900,000 |
|
$ |
900,000 |
|
|
TOTAL SHORT-TERM INVESTMENTS |
|
|
|
|
|
900,000 |
| |
|
|
|
|
|
|
|
|
| |
|
TOTAL INVESTMENTS (Identified cost—$294,784,385) |
|
124.1 |
% |
|
|
355,965,256 |
| |
|
|
|
|
|
|
|
|
| |
|
WRITTEN CALL OPTIONS |
|
(0.5 |
) |
|
|
(1,432,554 |
) | |
|
|
|
|
|
|
|
|
| |
|
LIABILITIES IN EXCESS OF OTHER ASSETS |
|
(23.6 |
) |
|
|
(67,686,200 |
) | |
|
|
|
|
|
|
|
|
| |
|
NET ASSETS (Equivalent to $12.45 per share based on 23,032,573 shares of common stock outstanding) |
|
100.0 |
% |
|
|
$ |
286,846,502 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of |
|
|
| |||
|
WRITTEN CALL OPTIONS—UNITED STATES (0.5)% |
|
|
|
|
| |||
|
S&P 500 Index, USD Strike Price 1,880, 4/19/14 |
|
1,018 |
|
$ |
(1,316,274 |
) | ||
|
S&P 500 Index, USD Strike Price 1,885, 4/19/14 |
|
114 |
|
(116,280 |
) | |||
|
TOTAL WRITTEN CALL OPTIONS |
|
|
|
$ |
(1,432,554 |
) | ||
Glossary of Portfolio Abbreviations
|
ADR |
American Depositary Receipt |
|
ETF |
Exchange-Traded Fund |
|
EUR |
Euro Currency |
|
GBP |
Great British Pound |
|
GDR |
Global Depositary Receipt |
|
MLP |
Master Limited Partnership |
|
REIT |
Real Estate Investment Trust |
|
USD |
United States Dollar |
Note: Percentages indicated are based on the net assets of the Fund.
(a) All or a portion of the security is pledged as collateral in connection with the Fund’s revolving credit agreement. $141,170,154 in aggregate has been pledged as collateral.
(b) Non-income producing security.
(c) All or a portion of the security is pledged in connection with written option contracts: $61,891,987 in aggregate has been pledged as collateral.
(d) Resale is restricted to qualified institutional investors. Aggregate holdings equal 3.3% of the net assets of the Fund, of which 0.0% are illiquid.
(e) Fair valued security. This security has been valued at its fair value as determined in good faith under procedures established by and under the general supervision of the Fund’s Board of Directors. Aggregate fair valued securities represent 0.4% of the net assets of the Fund.
(f) Rate quoted represents the seven-day yield of the Fund.
|
Sector Summary |
|
% of |
|
|
Financial (Common) |
|
13.7 |
|
|
Technology (Common) |
|
12.1 |
|
|
Industrials (Common) |
|
9.7 |
|
|
Real Estate (Common) |
|
8.2 |
|
|
Health Care (Common) |
|
7.5 |
|
|
Energy (Common) |
|
7.1 |
|
|
Consumer—Cyclical (Common) |
|
4.8 |
|
|
Pipelines (Common) |
|
4.6 |
|
|
Closed-End Funds |
|
4.6 |
|
|
Consumer—Non-Cyclical (Common) |
|
3.6 |
|
|
Banks—Foreign (Preferred) |
|
3.5 |
|
|
Materials (Common) |
|
3.1 |
|
|
Consumer Discretionary (Common) |
|
1.9 |
|
|
Consumer Staples (Common) |
|
1.9 |
|
|
Electric (Common) |
|
1.7 |
|
|
Automotive (Common) |
|
1.4 |
|
|
Communications (Common) |
|
1.3 |
|
|
Toll Roads (Common) |
|
1.3 |
|
|
Telecommunication Services (Common) |
|
1.0 |
|
|
Airports (Common) |
|
0.9 |
|
|
Gas Distribution (Common) |
|
0.9 |
|
|
Real Estate (Preferred) |
|
0.6 |
|
|
Integrated Telecommunications Services (Preferred) |
|
0.5 |
|
|
Hotel (Common) |
|
0.5 |
|
|
Shipping (Common) |
|
0.5 |
|
|
Insurance (Corporate Bonds) |
|
0.5 |
|
|
Other |
|
0.4 |
|
|
Insurance (Preferred) |
|
0.4 |
|
|
Transport—Rail (Common) |
|
0.4 |
|
|
Insurance (Common) |
|
0.3 |
|
|
Water (Common) |
|
0.3 |
|
|
Industrials (Preferred) |
|
0.3 |
|
|
Railways (Common) |
|
0.3 |
|
|
Finance (Preferred) |
|
0.2 |
|
|
|
|
100.0 |
|
Cohen & Steers Global Income Builder, Inc.
NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)
Note 1. Portfolio Valuation
Investments in securities that are listed on the New York Stock Exchange (NYSE) are valued, except as indicated below, at the last sale price reflected at the close of the NYSE on the business day as of which such value is being determined. If there has been no sale on such day, the securities are valued at the mean of the closing bid and ask prices on such day or, if no ask price is available, at the bid price. Exchange traded options are valued at their last sale price as of the close of options trading on applicable exchanges on the valuation date. In the absence of a last sale price on such day, options are valued at the average of the quoted bid and ask prices as of the close of business. Over-the-counter options are valued based upon prices provided by the respective counterparty.
Securities not listed on the NYSE but listed on other domestic or foreign securities exchanges are valued in a similar manner. Securities traded on more than one securities exchange are valued at the last sale price reflected at the close of the exchange representing the principal market for such securities on the business day as of which such value is being determined. If after the close of a foreign market, but prior to the close of business on the day the securities are being valued, market conditions change significantly, certain non-U.S. equity holdings may be fair valued pursuant to procedures established by the Board of Directors.
Readily marketable securities traded in the over-the-counter market, including listed securities whose primary market is believed by Cohen & Steers Capital Management, Inc. (the investment manager) to be over-the-counter, are valued at the last sale price on the valuation date as reported by sources deemed appropriate by the Board of Directors to reflect their fair market value. If there has been no sale on such day, the securities are valued at the mean of the closing bid and ask prices on such day or, if no ask price is available, at the bid price. However, certain fixed-income securities may be valued on the basis of prices provided by a pricing service when such prices are believed by the investment manager, pursuant to delegation by the Board of Directors, to reflect the fair market value of such securities.
Short-term debt securities with a maturity date of 60 days or less are valued at amortized cost, which approximates fair value. Investments in open-end mutual funds are valued at their closing net asset value.
The policies and procedures approved by the Fund’s Board of Directors delegate authority to make fair value determinations to the investment manager, subject to the oversight of the Board of Directors. The investment manager has established a valuation committee (Valuation Committee) to administer, implement and oversee the fair valuation process according to the policies and procedures approved annually by the Board of Directors. Among other things, these procedures
Cohen & Steers Global Income Builder, Inc.
NOTES TO SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
allow the Fund to utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.
Securities for which market prices are unavailable, or securities for which the investment manager determines that the bid and/or ask price or a counterparty valuation does not reflect market value, will be valued at fair value, as determined in good faith by the Valuation Committee, pursuant to procedures approved by the Fund’s Board of Directors. Circumstances in which market prices may be unavailable include, but are not limited to, when trading in a security is suspended, the exchange on which the security is traded is subject to an unscheduled close or disruption or material events occur after the close of the exchange on which the security is principally traded. In these circumstances, the Fund determines fair value in a manner that fairly reflects the market value of the security on the valuation date based on consideration of any information or factors it deems appropriate. These may include, but are not limited to, recent transactions in comparable securities, information relating to the specific security and developments in the markets.
Foreign equity fair value pricing procedures utilized by the Fund may cause certain non-U.S. equity holdings to be fair valued on the basis of fair value factors provided by a pricing service to reflect any significant market movements between the time the Fund values such securities and the earlier closing of foreign markets.
The Fund’s use of fair value pricing may cause the net asset value of Fund shares to differ from the net asset value that would be calculated using market quotations. Fair value pricing involves subjective judgments and it is possible that the fair value determined for a security may be materially different than the value that could be realized upon the sale of that security.
Fair value is defined as the price that the Fund would expect to receive upon the sale of an investment or expect to pay to transfer a liability in an orderly transaction with an independent buyer in the principal market or, in the absence of a principal market, the most advantageous market for the investment or liability. The hierarchy of inputs that are used in determining the fair value of the Fund’s investments is summarized below.
· Level 1 — quoted prices in active markets for identical investments
· Level 2 — other significant observable inputs (including quoted prices for similar investments, interest rates, credit risk, etc.)
· Level 3 — significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
For movements between the levels within the fair value hierarchy, the Fund has adopted a policy of recognizing the transfer at the end of the period in which the underlying event causing the movement occurred. Changes in valuation techniques may result in transfers into or out of an
Cohen & Steers Global Income Builder, Inc.
NOTES TO SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
assigned level within the disclosure hierarchy. As of March 31, 2014, there were $112,936,994 of securities transferred between Level 1 and Level 2, which resulted from the Fund utilizing foreign equity fair value pricing procedures as of March 31, 2014.
The following is a summary of the inputs used as of March 31, 2014 in valuing the Fund’s investments carried at value:
|
|
|
Total |
|
Quoted Prices In |
|
Other Significant |
|
Significant |
| ||||
|
|
|
|
|
|
|
|
|
|
| ||||
|
Common Stock - Australia |
|
$ |
3,562,251 |
|
$ |
— |
|
$ |
3,562,251 |
|
$ |
— |
|
|
Common Stock - Begium |
|
3,191,051 |
|
— |
|
3,191,051 |
|
— |
| ||||
|
Common Stock - France |
|
12,232,591 |
|
— |
|
12,232,591 |
|
— |
| ||||
|
Common Stock - Germany |
|
13,835,244 |
|
— |
|
13,835,244 |
|
— |
| ||||
|
Common Stock - Hong Kong |
|
14,909,295 |
|
— |
|
14,909,295 |
|
— |
| ||||
|
Common Stock - Italy |
|
3,315,848 |
|
— |
|
3,315,848 |
|
— |
| ||||
|
Common Stock - Japan |
|
27,421,085 |
|
— |
|
27,421,085 |
|
— |
| ||||
|
Common Stock - Jersey |
|
1,766,611 |
|
— |
|
1,766,611 |
|
— |
| ||||
|
Common Stock - Netherlands |
|
3,217,785 |
|
— |
|
3,217,785 |
|
— |
| ||||
|
Common Stock - New Zealand |
|
963,105 |
|
— |
|
963,105 |
|
— |
| ||||
|
Common Stock - Singapore |
|
5,447,688 |
|
4,411,248 |
|
1,036,440 |
|
— |
| ||||
|
Common Stock - Spain |
|
5,786,808 |
|
699,142 |
|
5,087,666 |
|
— |
| ||||
|
Common Stock - Switzerland |
|
16,049,839 |
|
3,491,979 |
|
12,557,860 |
|
— |
| ||||
|
Common Stock - United Kingdom |
|
29,071,491 |
|
3,828,630 |
|
25,242,861 |
|
— |
| ||||
|
Common Stock - Other Countries |
|
177,049,373 |
|
177,049,373 |
|
— |
|
— |
| ||||
|
Closed-End Funds |
|
16,231,265 |
|
16,231,265 |
|
— |
|
— |
| ||||
|
Preferred Securities - $25 Par Value |
|
6,331,140 |
|
6,331,140 |
|
— |
|
— |
| ||||
|
Preferred Securities - Capital Securities |
|
12,983,926 |
|
— |
|
12,983,926 |
|
— |
| ||||
|
Corporate Bonds |
|
1,698,860 |
|
— |
|
1,698,860 |
|
— |
| ||||
|
Money Market Funds |
|
900,000 |
|
— |
|
900,000 |
|
— |
| ||||
|
Total Investments(a) |
|
$ |
355,965,256 |
|
$ |
212,042,777 |
|
$ |
143,922,479 |
|
$ |
— |
|
|
Written Call Options |
|
$ |
(1,432,554 |
) |
$ |
(1,432,554 |
) |
$ |
— |
|
$ |
— |
|
|
Total Depreciation in Other Financial Instruments(a) |
|
$ |
(1,432,554 |
) |
$ |
(1,432,554 |
) |
$ |
— |
|
$ |
— |
|
(a) Portfolio holdings are disclosed individually on the Schedule of Investments.
Cohen & Steers Global Income Builder, Inc.
NOTES TO SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
Note 2. Derivative Instruments
Options: The Fund writes call options on an index and may write put options on an index and put and covered call options on securities with the intention of earning option premiums. Option premiums may increase the Fund’s realized gains and therefore may help increase distributable income. When the Fund writes (sells) an option, an amount equal to the premium received by the Fund is recorded on the Statement of Assets and Liabilities as a liability. The amount of the liability is subsequently marked-to-market to reflect the current market value of the option written. When an option expires, the Fund realizes a gain on the option to the extent of the premium received. Premiums received from writing options which are exercised or closed are added to or offset against the proceeds or amount paid on the transaction to determine the realized gain or loss. If a put option on a security is exercised, the premium reduces the cost basis of the security purchased by the Fund. If a call option is exercised, the premium is added to the proceeds of the security sold to determine the realized gain or loss. The Fund, as writer of an option, bears the market risk of an unfavorable change in the price of the underlying index or security. Other risks include the possibility of an illiquid options market or the inability of the counterparties to fulfill their obligations under the contracts.
Transactions in written options during the three months ended March 31, 2014 were as follows:
|
|
|
Number |
|
|
| |
|
|
|
of Contracts |
|
Premiums |
| |
|
Options outstanding at December 31, 2013 |
|
1,305 |
|
$ |
1,988,088 |
|
|
Options written |
|
3,449 |
|
6,314,035 |
| |
|
Options expired |
|
(357 |
) |
(597,210 |
) | |
|
Options terminated in closing transactions |
|
(1,466 |
) |
(2,182,524 |
) | |
|
Options exercised |
|
(1,799 |
) |
(3,336,265 |
) | |
|
Options outstanding at March 31, 2014 |
|
1,132 |
|
$ |
2,186,124 |
|
Note 3. Income Tax Information
As of March 31, 2014, the federal tax cost and net unrealized appreciation and depreciation in value of securities held were as follows:
|
Cost for federal income tax purposes |
|
$ |
294,784,385 |
|
|
Gross unrealized appreciation |
|
$ |
65,540,150 |
|
|
Gross unrealized depreciation |
|
(4,359,279 |
) | |
|
Net unrealized appreciation |
|
$ |
61,180,871 |
|
Item 2. Controls and Procedures
(a) The registrant’s principal executive officer and principal financial officer have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) are effective based on their evaluation of these disclosure controls and procedures required by Rule 30a-3(b) under the Investment Company Act of 1940 and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act as of a date within 90 days of the filing of this report.
(b) During the last fiscal quarter, there were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 3. Exhibits.
(a) Certifications of principal executive officer and principal financial officer as required by Rule 30a-2(a) under the Investment Company Act of 1940.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
COHEN & STEERS GLOBAL INCOME BUILDER, INC. |
| |
|
|
| |
|
|
| |
|
By: |
/s/ Adam M. Derechin |
|
|
|
Name: Adam M. Derechin |
|
|
|
Title: President |
|
|
|
| |
|
Date: May 23, 2014 |
| |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
|
By: |
/s/ Adam M. Derechin |
|
By: |
/s/ James Giallanza |
|
|
Name: Adam M. Derechin |
|
|
Name: James Giallanza |
|
|
Title: President and Principal Executive Officer |
|
|
Title: Treasurer and Principal Financial Officer |
Date: May 23, 2014